The tenant could file bankruptcy, and the owner could be dragged into this because of the upfront rent the tenant paid.

When bankruptcy was his only out, the park was at 41% occupancy.

Currently sending 12K mail pieces/mo- professional typed letter with logo, BBB accreditation logo, personal picture, full color; in pastel color A6 invitation size envelope handwitten looking to and return address with live, pre-canceled stamps sent via bulk mailLists are a lot of the targeted motivated lists:water/sewer lien, bankruptcy, 60/90 day late, NOD, divorce, probate, etcGracias

I've been through all the horrible financial situations...Divorce, Foreclosure, Bankruptcy....uuugh.  

```````````````````````````````````````````````````````````````````How do I make money in real estate if I've declared chapter 7 or 13 bankruptcy, or have a serious problem like an IRS tax lien?

. §54.1-2103 Exemptionsa.The provision of this chapter shall not apply to:1.Any person, partnership, association or corporation, on their regular employees, who as owner or lesser perform any of the acts enumerated in §54.1-2101 with reference to property owned leased by them, where the acts are performed in the regular course of or the management of a property and its investment therein;2.Any person acting without compensation as attorney-in-fact under a power of attorney issued by a property owner solely for the purpose of authorizing the final performance required of such owner under a contract for the sale lease purchase, or exchange of real estate;3.Services rendered by an attorney-at law in the performance of his duties as such;4.A person acting as a receiver, trustee in bankruptcy, administrator or executor, any person selling real estate under order of the court;5.A trustee under a trust agreement, deed of trust, or will, or the regular salaried employee thereof;So if you are not interested in getting licensed, and don't want to manage any more, then I would say have your friend give you a power of attorney to manage the property for him.  

If you make $30k/yr and have $200k in available credit some lenders will get nervous you'll max it out and wind up in Bankruptcy. 

Well...I have acquired over 1,000 apartment units and I did that coming from bankruptcy (I was in much worse financial position than you when I started).

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

The next several months were extremely stressful; the tenants left, I watched my bank account get lower by the day, and I spent every waking hour trying to figure out a solution. ...for weeks, I thought I was headed for bankruptcy, and I assumed the entire house would need to be razed (who would buy a house that has regular, unpreventable floods?).